The Bank’s role in society is simple: to attract the savings from families, companies and other agents with the aim of preserving them and making them grow, and to lend them rigorously and prudently to third parties. The difference between what the Bank pays for deposits and the interest it receives from loans, i.e. the net interest income, is its main source of revenue. This income allows the Bank to pay its everyday expenses, such as employee wages or supplier bills, and to make a profit. The role it plays therefore has a positive impact on society.
With respect to BBVA’s social balance, the main positive impacts of its financial business on society are:
- Contribution to the development of the communities where we are present through financial activity and our support for the productive sector and financial inclusion.
- Improvement of the social welfare of the people who receive loans for buying a home or durable consumer goods.
- Generation of wealth for stakeholders, such as that resulting from the payment of dividends to shareholders, payments made to suppliers, wages earned by employees, taxes accrued and paid, etc. and job creation.
- Direct contribution to society through social programs.
At the same time, BBVA strives to minimize the social costs related to the environment and relieve the negative effects originated by default and home losses, through refinancing or financial assistance for families.
We make a direct contribution to society through a variety of social initiatives that are always focused on education, and with direct investment that benefits different groups and generates a major direct and indirect social impact of large scale.